Accord Mortgages has dropped its loan-to-income cap for all incomes on what it says is a temporary basis.

New business applications where incomes are £60,000 or more will no longer be calculated at x5 income as before, but x4.49, in line with applications where income is below the £60,000 threshold.

The lender says that the move is necessary to manage case volume. Pipeline cases will not be affected by the LTI change, it adds.

The changes come into effect on Wednesday 21 October.

Accord director of intermediary distribution Jeremy Duncombe says: “Our priority is ensuring we can continue to offer a high level of support to brokers within the current environment. By making this adjustment to LTIs, we can manage volume and increase capacity to support brokers with a wider range of products.

“Whilst a difficult decision to make, by honouring all our pipeline cases we hope the impact to brokers and customers will be limited. We will continue to review the situation and reinstate the higher cap as soon as possible.”